Bitso, a Mexico-based crypto exchange platform, announced that it had launched Bitso+ for users across the Latin American region. Bitso+ is a blessing at a time when the entire region has been devastated by the constantly rising inflation.
All the countries across the globe have been adversely affected by inflation; however, Latin America felt the pinch on a higher note. Furthermore, it was affected when the Covid-19 pandemic happened, leaving many people with little or no money.
Bitso has not revealed how it will allow users to earn yields on their digital assets, but it has said that the users would only have to keep their holdings in the wallet for as long as possible.
It has been estimated that users of the Mexican trading platform will be able to earn a 15% annual yield on Stablecoin and a 6% yield on Bitcoin.
There is a difference between the two as Stablecoin has less volatility when compared to other cryptocurrencies like Bitcoin and Ethereum. Bitso users will also be able to withdraw their holdings anytime they want without paying any fee, something that is not supported by other exchanges like Coinbase.
There is often a lock-in period on such platforms for users to be eligible to earn yields. Bitso is removing that hassle to help people earn some decent money when they need it the most.
Daniel Vogel, the Chief Executive Officer & a co-founder of Bitso, addressed the community on this occasion. Daniel Vogel stated that the team was hopeful of helping people earn money with this new feature while sharing the benefits of cryptocurrency and the correct way of using them.
He also noted that certain parts of Latin America were devastated by inflation and the Covid-19 pandemic. Daniel Vogel reiterated that inflation continues to rise globally, but Bitso remains hopeful of clients getting an opportunity to increase their crypto wealth through Bitso+.
Bitso was founded in 2014, making it the first crypto trading exchange in Mexico. Bitso exchange operates in Mexico and encourages people in America to engage in healthy trading.
It is a common occurrence for businesses to expand their horizons across borders. Bitso stepping into the United States of America is a phenomenal one as there are always political tensions between the regions.
At the time of writing this article, Bitso has no native currency. It facilitates the trading of more than 20 pairs with a transaction fee of 0.095% on Maker and 0.099% on Taker.
Features of Bitso that make it a user-friendly platform are low trading fees, efficient customer support service, and an easy registration process. Anyone can get started on the platform by first registering themselves to create an account, completing the KYC process, and then depositing funds in Bitso.
Users can alternatively download the mobile application of Bitso to enjoy on-the-go convenience.